Information is the key resource

"Without business impact, IT is worthless."What does digitization of companies mean? "Information can be a basis for better decisionmaking." By this she means that digitized information is easier to share (share economy), geographical boundaries are subordinated, but at the same time complexity is raised to a higher level. For many managers, this development is also threatening because it breaks away the information monopoly of the management hierarchy. But digitization has not yet solved the dilemma and the uncertainty between the terms "data" and "usable information".And what does Professor Stringfellow think whether digitization is more hype or reality? "I do not know" - is definitely a very honest and also disarming answer. "We hear what is possible with Big Data" - this statement also makes it clear that some things around digitization are still at the buzzword level. The "data people" live in a different world than the people in the business units. The knowledge and expectations of these two groups must overlap. Stringfellow speaks of the so-called "knowledge overlap" that is necessary to overcome the current gap. Both sides are required to take steps towards each other. If this bridge is not built, much will remain hype. She speaks of the "missing link" between marketing and IT. Where does she see the central drivers for digitization? Stringfellow mentions first of all the large amount of digitalized data, so to speak as blood in this new organism, and anemia is definitely not a problem here. She also mentions the many online transactions that have become an integral part of our everyday lives - facts have been created. She sees the increasing competition as the third force with the addition that a me-too behavior of companies can also be observed due to the media presence. "Jumping on the bandwagon" or "peer pressure" in new German. People simply want to be there, too. As a final point, however, Stringfellow emphasizes that the use of data can significantly improve the effectiveness and efficiency of companies.And where are the opportunities and risks of digital transformation? Significantly, Stringfellow begins by describing the risks, referring to the well-known principle of "garbage in garbage out." The common buzzwords of digitization such as "crowd," "share," and "analytics" have not changed this fact. She sees a further risk in the fact that digitization leads to a one-sided, quantitative approach. In the process, important but non-quantifiable aspects, such as value concepts, would be ignored. The professor sees the primary opportunity of digitization in the more effective use of resources - "do more with less, focus the effort" - which can ultimately translate into improved profitability. In terms of improved customer segmentation in the digital age, she uses the terms "from broadcasting to beaming," meaning being much more focused in market access. Speaking at the recent Retailer Conference in the US was IBM CEO Ginni Rometty. She said Big Data is currently the "most under-hyped" term in business. What steam represented as a resource in the 18th century and electricity in the 19th century is now information - the key resource with differentiating power in competition. A recent US example from the women's apparel industry:- Targeted email campaign- 63% fewer emails than usual- 101% increase in click-throughs- 275% increase in conversion from browsers to buyersAnd at the end of this conversation, with the cosmopolitan professor who grew up in South Africa, she mentions two things that are specifically important to her. Recruiting will increasingly be about finding the "rare species" of professionals who understand the marketing trade and have no fear of IT - or vice versa. This will also be a major challenge in Switzerland. Digitalization is a business issue that must lead to better decisions for customers and companies. IT can contribute a lot - without "business impact", IT is worthless.